The latest Employment Outlook from employment firm Manpower describes a ‘multi-speed’ jobs recovery happening around the world.
Fourth quarter hiring intentions are robust in places such as China, India, Brazil, and Taiwan, and more firms expect to hire than fire in 28 out of 26 countries surveyed, including the U.S..
Still, U.S. hiring intentions aren’t spectacular.
“Clearly there are signs of a softening labour market, but when we consider what we are hearing from our clients and by looking at our own business, there is reason to be cautiously optimistic,” said. Manpower Inc. Chairman and CEO Jeff Joerres. “The hiring intentions for the fourth quarter are not enough to break through the labour market sound barrier that we’re all eagerly anticipating, as 71 per cent of employers indicate no change in hiring.”
Of the more than 18,000 employers surveyed, 15% anticipate an increase in staff levels in their Quarter 4 2010 hiring plans, while 11% expect a decrease in payrolls, resulting in a Net Employment Outlook of +4%. When seasonally adjusted, the Net Employment Outlook improves slightly to +5%. 70-one per cent of employers expect no change in their hiring plans. The final 3% of employers indicate they are undecided about their hiring intentions
Thus the U.S. jobs bleed has been staunched, and net job creation will continue through the end of 2010, but don’t expect a surge in new jobs either.